Palouse Capital Management Lowers stake in Apple (AAPL)

Apple (AAPL) : Palouse Capital Management reduced its stake in Apple by 1.74% during the most recent quarter end. The investment management company now holds a total of 33,975 shares of Apple which is valued at $3,497,726 after selling 603 shares in Apple , the firm said in a disclosure report filed with the SEC on Jul 26, 2016.Apple makes up approximately 1.36% of Palouse Capital Management’s portfolio.

Other Hedge Funds, Including , American Century Companies Inc reduced its stake in AAPL by selling 2,247,847 shares or 11.62% in the most recent quarter. The Hedge Fund company now holds 17,099,275 shares of AAPL which is valued at $1,760,370,361. Apple makes up approx 1.95% of American Century Companies Inc’s portfolio.Albion Financial Group Ut boosted its stake in AAPL in the latest quarter, The investment management firm added 210 additional shares and now holds a total of 141,285 shares of Apple which is valued at $14,545,291. Apple makes up approx 2.44% of Albion Financial Group Ut’s portfolio.Davenport Co reduced its stake in AAPL by selling 448 shares or 0.12% in the most recent quarter. The Hedge Fund company now holds 380,741 shares of AAPL which is valued at $36,882,381. Apple makes up approx 0.55% of Davenport Co’s portfolio.Mutual Of Omaha Bank Wealth Management boosted its stake in AAPL in the latest quarter, The investment management firm added 5,986 additional shares and now holds a total of 33,971 shares of Apple which is valued at $3,290,771. Apple makes up approx 1.07% of Mutual Of Omaha Bank Wealth Management’s portfolio.Stillwater Capital Advisors reduced its stake in AAPL by selling 450 shares or 0.35% in the most recent quarter. The Hedge Fund company now holds 129,453 shares of AAPL which is valued at $12,540,112. Apple makes up approx 3.65% of Stillwater Capital Advisors’s portfolio.

Apple closed down -0.13 points or -0.12% at $104.21 with 2,77,33,688 shares getting traded on Friday. Post opening the session at $104.19, the shares hit an intraday low of $103.68 and an intraday high of $104.55 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

On the company’s financial health, Apple reported $1.90 EPS for the quarter, missing the analyst consensus estimate by $ -0.10 based on the information available during the earnings call on Apr 26, 2016. Analyst had a consensus of $2.00. The company had revenue of $50557.00 million for the quarter, compared to analysts expectations of $51984.35 million. The company’s revenue was down -12.8 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $2.33 EPS.

Investors should note that on Jul 26, 2016, Apple announced a cash dividend of $0.5700. The company’s management has announced Aug 4, 2016 as the ex-dividend date and fixed the record date on Aug 8, 2016. The payable date has been fixed on Aug 11, 2016.

Many Wall Street Analysts have commented on Apple. Apple was Upgraded by Hilliard Lyons to ” Buy” on Jul 28, 2016. Company shares were Reiterated by Macquarie on Jul 27, 2016 to “Outperform”, Firm has raised the Price Target to $ 115 from a previous price target of $112 .Apple was Upgraded by Raymond James to ” Outperform” on Jul 27, 2016.

Apple Inc. (Apple) designs manufactures and markets mobile communication and media devices personal computers and portable digital music players and a variety of related software services peripherals networking solutions and third-party digital content and applications. The Company’s products and services include iPhone iPad Mac iPod Apple TV a portfolio of consumer and professional software applications the iOS and OS X operating systems iCloud and a variety of accessory service and support offerings. The Company also delivers digital content and applications through the iTunes Store App StoreSM iBookstoreSM and Mac App Store. The Company distributes its products worldwide through its retail stores online stores and direct sales force as well as through third-party cellular network carriers wholesalers retailers and value-added resellers. In February 2012 the Company acquired app-search engine Chomp.

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